Done Deal
You know how it is, just use the credit card to bail yourself out temporarily, and before you know it sky-high interest rates and compound interest make it a real struggle to get rid of the debt.
Apparently, the credit card companies call us revolvers - people who never pay off the debt, but keep making the payments - they love us. Wonder why?
Well, not any more. Just consolidated an existing loan with my credit card (note use of singular) debt and now on 6.7% straight interest, fixed for the term of the loan. Can pay off early with no penalties.
Gonna save a fortune. :) Been a loyal customer of the credit card company for god knows how long - not any more!
Loan company have shit tea though. Still, can’t have it all ways.
on January 4th, 2008 at 3:34 pm
I’m just wondering how much of that was for Christmas and how much for clothes;)
on January 4th, 2008 at 5:43 pm
Oh I wish - truth is the debt was racked up on the far more mundane things in life. :(
on January 4th, 2008 at 9:19 pm
Revolvers? Oh, I bet the credit card folk love those customers. :-) BTW, have you noticed how poor the credit card rewards have got of late. The BarclayCard points used to be worth colleting - there doesn’t seem any point these days
…. except maybe those supermarket credit cards - at least you get vouchers at the end of the year. Makes Xmas a bit easier! :-)
on January 4th, 2008 at 10:58 pm
Credit card points - I think the word I’m looking for is… derisory. TBH, looking at their value makes me laugh, it’s pathetic.
Let’s face it, banks are just a necessary evil of modern life. Perhaps society needs to re-evaluate its priorities and think about curbing the credit lifestyle. I’m working on it.
Mind you, with the energy price rises announced tonight I think we’re all going to need another mortgage. Shame wages aren’t going up 27%.
on January 5th, 2008 at 9:02 am
So very proud of you for doing this; had I done it when I only had one instead of 9 or 10 I might be actually retiring now, instead of thinking about taking my retirement from one job to look for another!
alan
on January 6th, 2008 at 10:09 pm
> Shame wages aren’t going up 27%
Not even MP’s salaries go up that much. :-)
TBH I cut up my unused credit cards and cancel them. I’ve been in debt before and what with the family and all (no, not The Family as in crime syndicate) I don’t want to repeat the problem.
Tell you what tho, the credit card companies don’t half fall over themselves when you ring up to cancel :-)
on January 6th, 2008 at 11:25 pm
Alan: Perhaps you’d have been even prouder if I’d learnt my lesson first time round, but better late than never! And I empathise with your own situation.
Lynn: I can just imagine all their grovelling when faced with a cancellation -after all think of all the revenue they’re losing. But why am I not sad?
So looking forward to paying them off. Will keep the card and give it to my other half - safer than being buried in the midst of Mordor.